Domestic aluminium scrap prices rose in sync with rise in prices on LME and also due to scarcity of a few grades in different regions. In Delhi market, a scarcity of (Purja/Tense) was reported.
Alloy manufacturers and traders feel that demand would remain stable till Diwali but are unsure about post-festival scenario in mid-November. Mumbai traders said scrap is adequately available. Manufacturers in North India struggled to procure Tense and Taint/Tabor to fulfil demand for aluminium alloys in the domestic market in addition to catering to the exports market of China and Japan.
The weekly Davis Index for the domestic old cast (Purja/Tense) Tuesday rose by Rs1,250/mt($17.01/mt) to settle at Rs104,750/mt del Delhi consumer on the sustained demand from the alloy manufacturers, while the index for Mumbai consumers settled at Rs100,500/mt, up by Rs1,750/mt.
The weekly Davis Index for domestic Taint/Tabor (old sheet) settled at Rs113,000/mt del Delhi consumer, up by Rs4,250/mt. Davis index heard Taint/Tabor with 0 per cent attachment available at Rs114,000/mt in NCR area and but traders in other areas did not confirm trades at this level.
The weekly Davis Index for domestic Taint/Tabor (old sheet) settled Rs110,000/mt, up by Rs1,000/mt del Mumbai consumer on sustained demand.
The weekly Davis Index for aluminium utensil settled at Rs115,000/mt del Delhi consumer, up by Rs2,500/mt and at Rs113,000/mt del Mumbai consumer, up by Rs4,000/mt, on growing demand as utensil manufacturers is ramping-up production ahead of the festive season.
The three-month official contract of aluminium on LME rose by $12/mt to settle at $1,859/mt on October 19 from $1,847/mt on October 12.